Additional Penalty for Repeated Delivery Default by a seller/buyer to be imposed @ 3 % of the value of the delivery default
SEBI had stipulated delivery default norms vide Circular SEBI/HO/CDMRD/DRMP/CIR/P/2021/35 dated March 23, 2021.
In order to put in place a suitable deterrent mechanism to address instances of repeated delivery defaults and to further strengthen the delivery mechanism and to ensure market integrity, SEBI has decided to impose additional penalty for repeated delivery default.
It has been provided that in the case of repeated default by a seller or a buyer, for each instance of repeated default, an additional penalty shall be imposed, which shall be 3 % of the value of the delivery default.
The repeated default has been defined as an event, wherein a default on delivery obligations takes place 3 times or more during a six months period on a rolling basis.
The penalty levied shall be transferred to Settlement Guarantee Fund (SGF) of the Clearing Corporation. This penalty is effective after one month from the date of issuance of SEBI circular.
Mere CBDT Instructions cannot absolve individuals of their obligation to explain the source and nature of their gold holdings, even…
Empanelment of General Observers for ICSI Examinations December 2026 ICSI has invited interested members to enroll as General Observers for…
ITAT answers some important and inter-related issues relating to deduction u/s 80IA In a recent judgment, ITAT has dealt with…
Carry forward of loss can not be denied for belated return, it is only the set off in subsequent year…
Where sales are duly recorded in books and VAT returns, to treat it bogus sales, AO must bringing cogent adverse…
Expenses to celebrate Diwali with staff creates a goodwill and, therefore amounts to expenses incurred for the purpose of business…